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Apr 15 - 08:55 PM

EUR/USD - 1.1990-1.2040 Resistance Caps, Break Needs Major News

By Andrew M Spencer  —  Apr 15 - 07:09 PM

  • Touch firmer early after closing off 0.1%, as resistance around 1.2000 caps

  • German econ min expects a big hike in 2021 growth forecasts nL8N2M8214

  • Charts; momentum studies 5, 10 & 21 DMAs base/rise - positive signals

  • Major resistance around 1.2000- 1.1990 March range top, 1.2007 cloud base

  • 1.2019 upper 21-day Bollinger band, good indicator of an overbought market

  • 1.2037, 61.8% of the Feb-March fall - major news needed for a 1.2050 break

  • 1.1909 200 DMA and 1.1915 rising 10 DMA is major support

  • NY NY 1.1956-1.1984 range is initial support resistance


For more click on FXBUZ


eur apr 16 Click here

Source:
Refinitiv IFR Research/Market Commentary

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